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I am a co-owner of a fully paid HDB with my mom with fulfil MOP. I intend to purchase a private condo with my non-citizen spouse who has a overseas property. If I remove my name from the HDB, do I still need to pay for ABSD and is there still any limitation on my CPF usage?
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3 Answers

Hi,

If you wish to remove your name from hdb, do note that your mum must be eligible to take over and be able to refund the CPF you have utilized for the property.

Once your name is removed, and you are purchasing as your joint matrimonial property, you can apply for ABSD remission if you are SC, and there will be no restrictions on CPF usage for 1st property.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
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Hi Sir,

Yes you will be able to do that. However, I think you would have utilize your own own CPF for this current HDB. Once you remove your name, your mum must have the financial means to reture you your CPF if you have utilized preciously. You may want to visit the HDB estate office to find out more on the procedures.

Once your name is removed, you will not need to pay Additional Buyer Stamp Duty when purchasing a condo as this will be consider your 1st property and your matrimonial home!

Please feel free to contact me so that I can understand your situation better and provide you with further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

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“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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Robbie Chen Chee Howe
Hi,

You can withdraw your name out from your jointly-owned HDB flat with your mother. However, take note that she must be able to refund back all the CPF monies (plus accrued interest) that you have paid towards the HDB flat, be it using her CPF or her CASH.

Upon the completion, your CPF funds would have been refunded to your CPF-OA, and you can fully utilise it for your purchase of the private condo. And as this will be your first property, you will not be liable to pay any ABSD as this will be your first matrimonial home.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
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